Investing.com – BTIG lowered its price target on Boston Scientific Corp. () to $60 from $65 while maintaining a Buy rating on the stock. The stock has declined over 50% in the past six months to $46.32, though InvestingPro analysis suggests the company remains undervalued at current levels, with a PEG ratio of just 0.26 indicating attractive value relative to growth prospects. For investors seeking deeper insights, InvestingPro offers a comprehensive Pro Research Report on BSX, one of 1,400+ US equities covered with expert analysis and actionable intelligence.
Boston Scientific reported second-quarter revenue of $5.442 billion, up 7.0% year-over-year on an organic basis and 7.5% on a reported basis, beating consensus estimates of $5.365 billion. Adjusted earnings per share of $0.86 came in three cents above consensus and exceeded the company’s guidance range of $0.82 to $0.84.
The Watchman segment generated $507 million in revenue, slightly below the $514 million consensus estimate, while the Electrophysiology business beat expectations by $10 million with revenue of $916 million. Boston Scientific set its third-quarter sales growth guidance below consensus and reduced its full-year outlook, citing continued Watchman declines and Farapulse losing market share to competitors.
The company indicated that 2027 sales growth would likely fall below the consensus estimate of 7.7%, with implied second-half 2026 sales growth of approximately 2% to 4% year-over-year on a reported basis. Management expects limited earnings per share growth in 2027 due to pressure on gross margins and challenges in expanding operating margins.
Boston Scientific announced a global restructuring plan earlier this week aimed at improving selling, general and administrative expense leverage starting in 2027 and eventually lowering cost of goods sold. BTIG based its new $60 price target on 16.5 times its revised 12- to 24-month adjusted earnings per share estimate.
In other recent news, Boston Scientific reported its second-quarter results, surpassing Wall Street’s expectations for both profit and sales. The company achieved adjusted earnings of $0.86 per share on revenue of $5.44 billion, exceeding forecasts of $0.83 per share and $5.37 billion in sales. Despite these positive results, the company adjusted its full-year outlook downward, which has drawn investor attention to challenges in some of its key business areas. Analysts have noted the softer outlook, which could influence investor sentiment moving forward. The earnings report highlights the complexity of Boston Scientific’s current market position, balancing strong quarterly performance with future uncertainties. These developments are part of a broader set of recent activities surrounding the company.
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